Amazon Seller Services raises ₹1,460 crore from parent
Summary
Ltd., the Indian seller marketplace arm of Amazon, has raised around ₹ 1,460 crore from parent, as a part of a new corporate round, amid an intensifying battle with Walmart-owned Flipkart in India’s booming online retail market. Ltd. invested around 1,459.93 crore as a part of the current round, with Mauritius-based Amazon.com.incs Ltd investing another 6.74 lakh in the Indian unit, showed regulatory filings with the corporate affairs ministry accessed by business intelligence platform Tofler. Categories such as large appliances, kitchen essentials, home entertainment and furniture continued to be top selling products for the ‘Local Shops’ programme, the company said in a statement earlier this month. The US-based e-commerce major has on-boarded more than 300,000 of the the total 850,000 sellers listed on Amazon India since January 2020. The company has also helped Indian MSMEs export $1 billion in shipments in the past 12 months under its ‘Global Selling’ programme, it said earlier this year.